Vietnam leads ASEAN in exports to the United States; China is the leading market for Vietnamese agricultural products in RCEP; grapefruit is officially "granted a visa" to South Korea... are the outstanding export news from July 29 to August 4.
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| The United States continues to be the largest market for Vietnamese goods. (Source: Vietnamnet) |
Vietnam leads ASEAN in exports to the US, reaching nearly 75 billion USD after 7 months
The latest report from the General Statistics Office shows that in the first 7 months of 2024, the export turnover of goods to the US market reached 66.1 billion USD, up 24.4% over the same period; the import turnover from this market reached 8.6 billion USD, up 6.2% over the same period. The US is currently the largest market for Vietnamese goods. At the same time, Vietnam is the leading country in the Southeast Asia (ASEAN) region in terms of exports to the US.
In contrast, Vietnam is the 8th largest trading partner of the United States and the 6th largest import market of US goods.
Vietnam exports to the United States many groups of products such as machinery, equipment, tools, spare parts; computers, electronic products and components; textiles; phones of all kinds and components; wood and wood products; footwear, etc.
In return, Vietnam imports from the United States many products serving production such as computers, electronic products and components; cotton; machinery, equipment, tools, spare parts; animal feed and raw materials...
According to Mr. Do Ngoc Hung, Commercial Counselor, Vietnam Trade Office in the United States, Vietnamese goods are increasingly popular in the US market due to their continuously improved quality, updated trends and competitive prices. On the other hand, changes in the supply chain as well as the wave of investment shifts have contributed to enhancing the production capacity of Vietnamese enterprises. This also creates opportunities and room for Vietnamese goods to increase exports to the world in general and the US market in particular.
After nearly 30 years of establishing diplomatic relations and 24 years since the signing of the Vietnam-US Bilateral Trade Agreement (BTA), trade relations between the two countries have been a bright spot. According to statistics from the General Department of Customs, Vietnam-US trade reached the 100 billion USD mark for the first time in 2021 (reaching 111.55 billion USD). Of which, Vietnam's exports reached 96.27 billion USD and imports reached 15.28 billion USD. Since then, two-way trade has reached over 100 billion USD every year.
According to Dr. Vo Tri Thanh, an economic expert, the BTA is a good foundation to help Vietnam become more confident in its international integration. Vietnam has revised and changed dozens of laws, perfecting a strong legal framework.
After the BTA, Vietnam confidently promoted deep integration, linking international commitments with domestic reforms, especially economic institutional reforms. The BTA promoted a process for Vietnam to gradually build a public, transparent, non-discriminatory legal system to integrate into the world economy. Thanks to that, two-way trade between the two countries has had stable growth.
On September 10, 2023, the Vietnam-US relationship was upgraded to a Comprehensive Strategic Partnership. This milestone has opened up many opportunities for cooperation in all areas, including economic and trade between the two countries in the future.
Top 3 markets for value-added pangasius from Vietnam
According to the General Department of Customs, in the second quarter of 2024, Vietnam's value-added pangasius exports reached 9 million USD, up 43%; in the first half of this year, value-added pangasius exports reached 17 million USD, up 28% over the same period last year, accounting for 2% of Vietnam's total pangasius exports to markets.
Thailand was the largest consumer market for Vietnam's value-added pangasius in the first half of this year with a value of more than 3 million USD, up 4% over the same period last year, accounting for 19% of the total export of this product to markets.
March 2024 was recorded as the month with the highest value of value-added pangasius exports to Thailand, with more than 800 thousand USD, an increase of 86% over the same period in 2023.
After increasing by one and a half times in April 2024, this market did not import value-added pangasius from Vietnam in May 2024. However, in June 2024, Thailand increased imports again, doubling compared to the same period last year, reaching more than 700 thousand USD.
After Thailand, the UK is the second largest importer of value-added pangasius from Vietnam. In the first half of this year, exports of this product to the UK reached more than 2 million USD, down 4% compared to the same period in 2023. February 2024 was the month this market consumed the most value-added pangasius, with more than 500 thousand USD, up 56% over the same period.
In the value-added pangasius segment, in the first half of 2024, the UK mainly imported frozen breaded pangasius fillets, accounting for 55% of the proportion, and frozen breaded pangasius fillets, accounting for 41%.
In the first half of 2024, value-added pangasius exports to Australia reached more than 2 million USD, an increase of 40% over the same period in 2023. February 2024 was the month when this country consumed the most value-added pangasius from Vietnam in the first 6 months of the year, with more than 500 thousand USD, nearly 17 times higher than February 2023.
Frozen breaded pangasius fillets and frozen pre-fried breaded pangasius fillets are the two main products in the value-added pangasius segment favored by Australian consumers, with proportions of 46% and 16% respectively in total value-added pangasius exports to this market.
Vietnamese value-added pangasius products are gradually becoming popular in many international markets, due to their diversity, ease of processing, richness and nutrition from delicious white-fleshed fish.
This is the most potential market for Vietnamese agricultural products in RCEP.
China is Vietnam's largest buyer in the Regional Comprehensive Economic Partnership (RCEP) bloc. Vietnam continues to open its market for citrus fruits, frozen durian, etc. in China. This information was given at the Conference on Dissemination of SPS Regulations in the EVFTA and RCEP Agreements organized by the Vietnam SPS Office, Vietnam Agriculture Newspaper, and the Ho Chi Minh City Department of Food Safety on August 2.
The conference was held to enhance the dissemination and update of food safety and animal and plant disease safety (SPS) regulations to help businesses, cooperatives and farmers participating in the production and processing chain of agricultural, food and aquatic products raise awareness and comply with regulations of import markets.
Sharing at the Conference, MSc. Luong Ngoc Quang - Department of International Cooperation and Communications, Plant Protection Department (Ministry of Agriculture and Rural Development) - said that SPS regulations in RCEP are based on 6 criteria, including: compliance with international regulations, science-based risk assessment, transparency, encouragement of mutual recognition methods, cooperation and application of technology in certification.
For the RCEP group of countries, when exporting goods, compliance with food safety and phytosanitary requirements is extremely important to protect public health and prevent the entry of harmful organisms.
Import regulations often require the prevention of dangerous pests or food safety hazards from entering the importing country. Plant quarantine plays an important role in eliminating the risk of introducing pests through trade, ensuring that exported products fully meet the food safety standards of the importing country.
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| Rambutan is one of the Vietnamese fruits favored by the Chinese market. (Source: Vietfood) |
At the conference, experts said that China is currently Vietnam's largest export market in RCEP. The number of products allowed to be exported to China is the largest, currently 12 products.
Some fruits, including traditional items such as mango, longan, lychee, rambutan, jackfruit and dragon fruit. In addition, some new fruits allowed for export in recent years include mangosteen (2019), black jelly (2020), durian, sweet potato (2022), banana (2022), watermelon (2023) and coconut (2024). Passion fruit and chili are currently under temporary regulation, while items such as citrus fruits (grapefruit), medicinal herbs and frozen fruits are still in the process of negotiating to open the market.
The Chinese market is applying strict control measures on goods crossing the border, especially those traded in the form of small-scale trade. To ensure exports, exporters need to negotiate openings for individual products and re-sign export protocols for traditional fruits. Similar management procedures are being applied to new products such as mangosteen, durian, sweet potatoes and bananas.
In addition, the new requirement is to declare the growing area code and packing facility for agricultural products. Some agricultural products also need to be registered under orders 248 and 249.
RCEP is a Free Trade Agreement (FTA) between 10 ASEAN countries (including Vietnam) and 5 non-ASEAN economic partners: Australia, South Korea, New Zealand, Japan and China, signed on November 15, 2020.
Grapefruit officially "granted visa" to Korea
On July 30, 2024, after 3 months of widely consulting with relevant parties, the Animal and Plant Quarantine Service of Korea (APQA) officially announced on the APQA website the import regulations for fresh grapefruit from Vietnam to Korea.
Since 2018, the Plant Protection Department has initiated a program to open the market for Vietnamese grapefruit exported to Korea. However, the negotiation process has only really accelerated after the Covid-19 pandemic.
After 2 years of efforts, active coordination, and information exchange to promote the process of conducting pest risk analysis and going through many rounds of negotiations, the Plant Protection Department and the Korean Animal and Plant Quarantine Service reached a technical agreement in a bilateral meeting in April 2024.
At the same time, on July 18, 2024, the Plant Protection Department also posted on its website a draft of requirements on plant quarantine and food safety for fresh grapefruit imported from Vietnam into Korea so that interested organizations and individuals can learn and have information about these regulations in advance.
Thus, grapefruit is the third fresh fruit from Vietnam to be allowed to be imported into Korea, along with dragon fruit and mango. The fact that Vietnamese grapefruit is allowed to be imported into Korea is an important step, opening up great opportunities for Vietnamese agricultural products to access the international market, while affirming the quality and reputation of Vietnamese agricultural products in the world market.
According to the Plant Protection Department, fresh grapefruit imported from Vietnam into Korea must comply with strict plant quarantine procedures, including 10 steps: from registering growing areas and export packing houses, classifying grapefruit, hot steam treatment, packaging and labeling, to pre-clearance inspection, export inspection and certification, and import inspection.
Source: https://baoquocte.vn/xuat-khau-ngay-297-48-hang-hoa-viet-nam-ngay-cang-duoc-ua-chuong-tai-hoa-ky-trung-quoc-tiep-tuc-la-thi-truong-so-mot-cua-nong-san-viet-trong-rcep-281315.html
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